There was a telling moment yesterday on the NYTimes.com website. It was just after 10:30 in the morning and the top of the site featured a breaking news article about the S&P 500 heading into higher territory. The article offered the usual litany of explanations, from better than expected news on housing starts to a surprising uptick in retail sales. But here’s the catch: by the time I glanced at the article it was already obsolete…
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June 19th, 2009 at 5:14 pm
I’ve noticed this numerous times on the NYTimes. Someone should put together a system to bet against the headlines and see how well it does.
June 19th, 2009 at 5:54 pm
I think there is a “bias” issue, people, myself included, are prone to notice the discrepancy when the headline is wrong and blank it out when right. I have checked this before (small sample) and it’s pretty random. Best strategy, ignore headlines: just noise, watching order flow is more important for trading.